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Fourth Quarter and Full Year 2016 Results Presentation to Investors and Analysts February 14, 2017 Disclaimer (1/2) The data presented in this presentation relating to the Swiss Universal Bank refers to the division of Credit Suisse Group as the

SLIDE 1

Fourth Quarter and Full Year 2016 Results

Presentation to Investors and Analysts

February 14, 2017

SLIDE 2

February 14, 2017 2

Disclaimer (1/2)

The data presented in this presentation relating to the Swiss Universal Bank refers to the division of Credit Suisse Group as the same is currently managed within Credit Suisse Group. The scope, revenues and expenses of the Swiss Universal Bank vary from the planned scope of Credit Suisse (Schweiz) AG and its subsidiaries, for which a partial initial public offering (IPO) is planned, market conditions permitting. Any such IPO would involve the sale of a minority stake and would be subject to, among other things, all necessary approvals. It is therefore not possible to make a like-for-like comparison of the Swiss Universal Bank as a division of Credit Suisse Group on the one hand and Credit Suisse (Schweiz) AG as a potential IPO vehicle on the other hand. Cautionary statement regarding forward-looking statements This presentation contains forward-looking statements that involve inherent risks and uncertainties, and we might not be able to achieve the predictions, forecasts, projections and

ther outcomes we describe or imply in forward-looking statements. A number of important factors could cause results to differ materially from the plans, objectives, expectations,

estimates and intentions we express in these forward-looking statements, including those we identify in "Risk Factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2015 and in “Cautionary statement regarding forward-looking information" in our fourth quarter earnings release 2016 filed with the US Securities and Exchange Commission, and in other public filings and press releases. We do not intend to update these forward-looking statements except as may be required by applicable law. In particular, the terms “Illustrative”, “Ambition”, “Outlook” and “Goal” are not intended to be viewed as targets or projections, nor are they considered to be Key Performance

Indicators. All such illustrations, ambitions and goals are subject to a large number of inherent risks, assumptions and uncertainties, many of which are completely outside of our
control. Accordingly, this information should not be relied on for any purpose. We do not intend to update these illustrations, ambitions or goals.

We may not achieve the benefits of our strategic initiatives We may not achieve all of the expected benefits of our strategic initiatives. Factors beyond our control, including but not limited to the market and economic conditions, changes in laws, rules or regulations and other challenges discussed in our public filings, could limit our ability to achieve some or all of the expected benefits of these initiatives. Estimates and assumptions In preparing this presentation, management has made estimates and assumptions that affect the numbers presented. Actual results may differ. Figures throughout presentation may also be subject to rounding adjustments. In particular, pro forma figures from Wealth Management and connected activities within APAC are based on preliminary estimates. Cautionary Statements Relating to Interim Financial Information This presentation contains certain unaudited interim financial information for the year-to-date 2017, the date of our last published quarterly financial statements. This information has been derived from management accounts, is preliminary in nature, does not reflect the complete results of the first quarter of 2017 and is subject to change, including as a result of any normal quarterly adjustments in relation to the financial statements for the first quarter of 2017. This information has not been subject to any review by our independent registered public accounting firm. There can be no assurance that the final results for these periods will not differ from these preliminary results, and any such differences could be material. Quarterly financial results for the first quarter of 2017 will be included in our 1Q17 Financial Report. These interim results of operations are not necessarily indicative of the results to be achieved for the remainder of 1Q17 or the full first quarter of 2017.

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February 14, 2017 3

Disclaimer (2/2)

Statement regarding non-GAAP financial measures This presentation also contains non-GAAP financial measures, including adjusted results. Information needed to reconcile such non-GAAP financial measures to the most directly comparable measures under US GAAP can be found in this presentation in the Appendix, which is available on our website at credit-suisse.com. Statement regarding capital, liquidity and leverage As of January 1, 2013, Basel III was implemented in Switzerland along with the Swiss “Too Big to Fail” legislation and regulations thereunder (in each case, subject to certain phase-in periods). As of January 1, 2015, the Bank for International Settlements (BIS) leverage ratio framework, as issued by the Basel Committee on Banking Supervision (BCBS), was implemented in Switzerland by FINMA. Our related disclosures are in accordance with our interpretation of such requirements, including relevant assumptions. Changes in the interpretation of these requirements in Switzerland or in any of our assumptions or estimates could result in different numbers from those shown in this presentation. Capital and ratio numbers for periods prior to 2013 are based on estimates, which are calculated as if the Basel III framework had been in place in Switzerland during such periods. Unless otherwise noted, leverage exposure is based on the BIS leverage ratio framework and consists of period-end balance sheet assets and prescribed regulatory adjustments. Beginning in 2015, the Swiss leverage ratio is calculated as Swiss total capital, divided by period-end leverage exposure. The look-through BIS tier 1 leverage ratio and CET1 leverage ratio are calculated as look-through BIS tier 1 capital and CET1 capital, respectively, divided by end-period leverage exposure. Selling restrictions This document, and the information contained herein, is not an offer to sell or a solicitation of offers to purchase or subscribe for securities of Credit Suisse Group AG or Credit Suisse (Schweiz) AG in Switzerland, the United States or any other jurisdiction. This document is not a prospectus within the meaning of article 652a of the Swiss Code of Obligations, nor is it a listing prospectus as defined in the listing rules of the SIX Swiss Exchange AG or any other exchange or regulated trading facility in Switzerland or a prospectus or offering document under any other applicable laws. Copies of this document may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which such documents are barred or prohibited by law. A decision to invest in securities of Credit Suisse Group AG or Credit Suisse (Schweiz) AG should be based exclusively on a written agreement with Credit Suisse Group AG or an offering and listing prospectus to be published by Credit Suisse Group AG or Credit Suisse (Schweiz) AG for such purpose. Any offer and sale of securities of Credit Suisse (Schweiz) AG will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered in the United States of America absent such registration or an exemption from registration. There will be no public offering of such securities in the United States of America.

SLIDE 4

4Q16 and Full Year 2016 Earnings Review

Tidjane Thiam, Chief Executive Officer David Mathers, Chief Financial Officer

SLIDE 5

February 14, 2017 5 Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 The look-through CET1 ratio, without taking into account the impact of the final DOJ settlement relating to our legacy RMBS business, excludes a provision in 4Q16 of approximately USD 2 bn and an increase in operational risk RWA of approximately CHF 0.7 bn 2 The look-through CET1 leverage ratio, without taking into account the impact of the final DOJ settlement relating to our legacy RMBS business, excludes a provision in 4Q16 of approximately USD 2 bn

Overview of Credit Suisse 2016 results

Pre-tax income

(CHF mn unless otherwise specified)

Reported Adjusted 2016 2015 2016 2015

SUB

2,025 1,675 1,738 1,624

IWM

1,121 723 1,109 1,016

APAC

725 377 778 1,142

IBCM in USD mn

268 (313) 297 93

Global Markets in USD mn

57 (1,891) 284 1,136

Total CS Core

3,493 230 3,558 4,329

SRU in USD mn

(5,460) (2,711) (2,982) (2,258)

CS Group

(1,966) (2,422) 615 2,123

RWA in CHF bn

268 290 2016 pre-DOJ RMBS settlement:

“Look-through” CET1 ratio

11.6% 11.4% 12.5%1

Leverage exposure in CHF bn

951 988

“Look-through” CET1 leverage ratio

3.3% 3.3% 3.5%2

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February 14, 2017 6

We are well positioned to capture growth and benefit from improved market conditions

Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Measured at constant FX rates (see Appendix) 2 Relating to Wealth Management in SUB, IWM and APAC 3 Gross global revenues from advisory, debt and equity underwriting generated across all divisions before cross- divisional revenue sharing agreements 4 Dealogic as of December 31, 2016 5 Annualized numbers do not take account of variations in operating results, seasonality and other factors and may not be indicative of actual, full-year results 6 Estimated 4Q16 annualized exit rate shown at Investor Day 2016 7 The look-through CET1 ratio, without taking into account the impact of the final DOJ settlement relating to our legacy RMBS business, excludes a provision in 4Q16 of approximately USD 2 bn and an increase in operational risk RWA of approximately CHF 0.7 bn

Growing profitably

– Wealth Management achieved CHF 28.5 bn of NNA in 2016, a 58%2 increase year-on-year; Assets under Management increased by 8% to CHF 734 bn2 in 2016 at higher gross and net margins – Global advisory and underwriting3 delivered increased revenues and outperformance against the market4 – Benefits from Global Markets restructuring starting to emerge: 4Q16 annualized5 adjusted cost base below USD 5.2 bn6 and increasing momentum across Credit and Equities

2

Strengthening our capital position

– “Look-through” CET1 ratio at 11.6% (12.5%7 pre-DOJ RMBS settlement)

4

Executing with discipline

– Significant increase in operating leverage: adjusted net cost savings of CHF 1.9 bn1 achieved in 2016, exceeding our target of > CHF 1.4 bn1

1

Resolving key legacy issues

– Settlement with DOJ related to RMBS matter – Continued progress in reducing legacy portfolio in the SRU

3

SLIDE 7

February 14, 2017 7

Adjusted total operating expenses at constant FX rates*

in CHF bn

Achieved net cost savings of CHF 1.9 bn in 2016, exceeding

ur 2016 target of > CHF 1.4 bn

Note: Cost reduction program measured in constant FX rates and based on expense run rate excluding major litigation expenses, restructuring costs and a goodwill impairment taken in 4Q15, but including other costs to achieve

savings. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix

* See Appendix

21.2 <19.8 19.4 <17.0 19.1 2015 2016 Target 2016 2018 Target 2016 FX actual 1.9

Execution Profitable growth Legacy Detailed Financials Capital

SLIDE 8

February 14, 2017 8

Large diversified platform generating strong asset inflows in 2016…

NNA in Wealth Management1

in CHF bn

18.0 28.5 2015 2016 +58%

1 Relating to Wealth Management in SUB, IWM and APAC Execution Profitable growth Legacy Detailed Financials Capital

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February 14, 2017 9

…with higher gross and net margins

28 30 2015 2016 Adjusted gross margin1,2 in bps Adjusted net margin1,2 in bps 112 114 2015 2016

Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Relating to Wealth Management in SUB, IWM and APAC 2 Adjusted to exclude Swisscard net revenues of CHF 148 mn and operating expenses of CHF 123 mn for 2015 in SUB Wealth Management Execution Profitable growth Legacy Detailed Financials Capital

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February 14, 2017 10

0.7 1.2 0.7

APAC Emerging Europe, Middle East & Africa Europe Latin America SUB

4Q16 NNA affected by seasonality, regularization and proactive EAM exits. In Q1 to date, all divisions positive

1 Relating to Wealth Management in SUB, IWM and APAC 2 Includes IWM International Private Clients business

Wealth Management NNA in 4Q161

in CHF bn

SUB 4Q15

Seasonal effects Proactive management action (incl. regularization and selected EAM exits)

Execution Profitable growth Legacy Detailed Financials Capital

IWM

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February 14, 2017 11

14.6 14.3 4.2 APAC IWM - Emerging Europe, Middle East & Africa IWM - Europe

In 2016, strong inflows across Emerging and Mature Markets

1 Relating to Wealth Management in IWM (excluding Latin America) and APAC 2 Includes IWM International Private Clients business

Wealth Management NNA in 20161

in CHF bn 2

NNA growth rate 10% 13% 4%

Execution Profitable growth Legacy Detailed Financials Capital

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February 14, 2017 12

681 673 698 725 734 4Q15 1Q16 2Q16 3Q16 4Q16

Continued growth in assets under management during 2016

AuM in Wealth Management1

in CHF bn 1 Relating to Wealth Management in SUB, IWM and APAC

+ CHF 53 bn

Execution Profitable growth Legacy Detailed Financials Capital

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February 14, 2017 13

311 513 700 2015 2016 2018 Target

Strong performance across our APAC wealth management activities

Adjusted pre-tax income (management estimate)2

in CHF mn

Adjusted return

n regulatory capital†

(management estimate)2 16% 23%

APAC Wealth Management and connected activities1

Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix † See Appendix 1 Includes contributions from APAC Wealth Management, APAC Underwriting and Advisory as well as Financing for activities with our UHNWI, Entrepreneurs and Corporate clients 2 Pro forma Wealth Management and connected activities within APAC based on preliminary estimates

+65%

Execution Profitable growth Legacy Detailed Financials Capital

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February 14, 2017 14

Strong asset inflows and increase in profitability in IWM

Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix † See Appendix

1.0 1.1 Adjusted return

n regulatory

capital† 23% IWM Wealth Management NNA in CHF bn IWM Adjusted pre-tax income in CHF bn Adjusted gross margin

in bps

107 110 22%

15.6 2015 2016 2015 2016

Execution Profitable growth Legacy Detailed Financials Capital

SLIDE 15

February 14, 2017 15

SUB delivered year-on-year profit growth for the fourth consecutive quarter…

Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results and a reconciliation of adjustments applied for Swisscard are included in the Appendix. Financial and other information is for Swiss Universal Bank division. Scope of Credit Suisse (Schweiz) AG differs from Swiss Universal Bank division 1 Excludes Swisscard impact

Adjusted pre-tax income1

in CHF mn

431 432 400 336 472 457 431 378 1Q 2Q 3Q 4Q 2015 2016 +10% +6% +8% +13%

Execution Profitable growth Legacy Detailed Financials Capital

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February 14, 2017 16

…with PTI up 15% compared to 2014

Adjusted pre-tax income1

in CHF bn Execution Profitable growth Legacy Detailed Financials Capital

1.5 1.6 1.7 2014 2015 2016 +15%

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February 14, 2017 17

0.9 1.0 1.7 2.0 0.9 0.8 2015 2016 3.5 3.8

Global advisory and underwriting delivering increased revenues and outperformance against the market

Global advisory and underwriting revenues1

in USD bn

Advisory Equity underwriting Debt underwriting

1 Gross global revenues from advisory, debt and equity underwriting generated across all divisions before cross-divisional revenue sharing agreements 2 Dealogic as of December 31, 2016, relating to 2016 vs. 2015 revenue development

+9% Performance

vs. market2

Execution Profitable growth Legacy Detailed Financials Capital

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February 14, 2017 18

Benefits from Global Markets restructuring starting to emerge – lower operating expenses and capital consumption…

6.0 <5.2 2015 4Q16 annualized

Adjusted operating expenses in USD bn

Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Based on 4Q16 annualized adjusted cost base, which was below our previous estimate of CHF 5.2 bn presented at the Investor Day on December 7, 2016 1

64 51 2015 2016 RWA in USD bn

Execution Profitable growth Legacy Detailed Financials Capital

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February 14, 2017 19

366 608 4Q15 4Q16

…combined with a strong rebound in Credit revenues and a resilient Equities performance

Credit products net revenues in USD mn Equities excl. SMG1 net revenues in USD mn +34% +66% 315 421 3Q16 4Q16

1 SMG = Strategic Market-Making Group Execution Profitable growth Legacy Detailed Financials Capital

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February 14, 2017 20

SRU RWA

in USD bn

73 44 30 2015 2016 2019 Target

Continued progress in reducing legacy portfolio

SRU leverage exposure

in USD bn

170 103 SRU adjusted operating expenses in USD bn 2.7 1.6

Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Based on annualized 2019 quarterly average adjusted operating expense ambition, as presented at the Investor Day on December 7, 2016

40 0.41

Execution Profitable growth Legacy Detailed Financials Capital

SLIDE 21

February 14, 2017 21

Strengthening our capital position – “look-through” CET1 ratio at 11.6% (12.5%1 pre-DOJ RMBS settlement)

Basel III “look-through” CET1 capital ratio 8.0% 10.0% 10.1% 11.4% 11.4% 11.8% 12.0% 11.6% 0.9% 4Q12 4Q13 4Q14 4Q15 1Q16 2Q16 3Q16 4Q16

Impact of DOJ RMBS settlement1 Post-DOJ RMBS settlement

12.5%

Pre-DOJ RMBS settlement1 1 The look-through CET1 ratio, without taking into account the impact of the final DOJ settlement relating to our legacy RMBS business, excludes a provision in 4Q16 of approximately USD 2 bn and an increase in operational risk RWA of approximately CHF 0.7 bn Execution Profitable growth Legacy Detailed Financials Capital

SLIDE 22

February 14, 2017 22

Current trading and outlook

Continued momentum in January across Wealth Management and Investment Banking – We have seen positive inflows across each of our Wealth Management1 businesses in January – Significant rebound in client activity levels across capital markets and trading, with Credit and Securitized Products revenues up over 100% year-on-year2, somewhat offset by lower trading volumes and volatility levels in Equities – IBCM revenues up 90% year-on-year2 with broad based strength in Advisory, ECM and DCM Well positioned to capture profitable growth opportunities and benefit from improved market conditions

1 Relating to Wealth Management in SUB, IWM and APAC 2 Month of January 2017 vs. 2016 Execution Profitable growth Legacy Detailed Financials Capital

SLIDE 23

Detailed Financials

SLIDE 24

February 14, 2017 24

Adjusted

Results overview

Credit Suisse Group results 4Q16 3Q16 4Q15 2016 2015 Net revenues 5,181 5,396 4,210 20,323 23,797 Provision for credit losses 75 55 133 252 324 Total operating expenses 7,009 5,119 10,518 22,037 25,895 Pre-tax income/(loss) (1,903) 222 (6,441) (1,966) (2,422) Fair value (gains)/losses on own debt

697
(298)

Real estate gains (78) (346) (72) (424) (95) (Gains)/losses on business sales 2

(34)

58 (34) Goodwill impairment

(3,797)
(3,797)

Restructuring expenses (49) (145) (355) (540) (355) Major litigation expenses (2,101) (306) (564) (2,407) (820) Net revenues 5,105 5,050 4,801 19,957 23,370 Provision for credit losses 75 55 133 252 324 Total operating expenses 4,859 4,668 5,802 19,090 20,923 Pre-tax income 171 327 (1,134) 615 2,123 Net income/(loss) attributable to shareholders (2,347) 41 (5,828) (2,438) (2,944) Diluted Earnings/(loss) per share in CHF (1.12) 0.02 (3.28) (1.19) (1.73) Return on Tangible Equity1 n/m 0.4% n/m n/m n/m

Note: All values shown are in CHF mn unless otherwise specified. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Based on tangible shareholders’ equity attributable to shareholders, a non-GAAP financial measure, which is calculated by deducting goodwill and other intangible assets from total shareholders’ equity attributable to shareholders as presented in our balance sheet. Management believes that the return on tangible shareholders’ equity attributable to shareholders is meaningful as it allows consistent measurement of the performance of businesses without regard to whether the businesses were acquired Execution Profitable growth Legacy Detailed Financials Capital

SLIDE 25

February 14, 2017 25

4Q15 4Q16 988 951

1 Business impact includes business moves and internally driven methodology and policy impact; methodology & policy reflects external methodology changes only 2 Net of FX and major external methodology changes 3 Includes FX impact of CHF 8 bn and the impact of CHF (13) bn from the change in accounting treatment of collateralized loan obligations (CLOs) in 1Q16 4 IWM excludes the impact of CHF (13) bn from the change in accounting treatment of collateralized loan obligations (CLOs) in 1Q16

Basel III RWA in CHF bn

290 268

4Q16 vs. 4Q15 Basel III RWA business impact2 in CHF bn

SRU GM

Corp. Ctr.

Growth businesses (33) 7 (28) +9

Leverage exposure in CHF bn

4Q15 4Q16

FX impact & Other3 Business impact

(32) (5)

4Q16 capital ratios impacted by DOJ settlement; continued reallocation of resources to growth areas

APAC +5 IWM +2 SUB +1

SRU

Corp. Ctr.

GM Growth businesses

4Q16 vs. 4Q15 Leverage exposure business impact2 in CHF bn

SUB +12 APAC +9 IBCM +5

(63) (5) +6 +30 11.6% 11.4% CET1 ratio 3.3% 3.3% CET1 leverage ratio 4.4% 4.5% Tier1 leverage ratio 4

Business impact1 FX impact Methodology & policy1

(12) (2)

IWM4 +4

IBCM +1 Execution Profitable growth Legacy Detailed Financials Capital

SLIDE 26

February 14, 2017 26

End-2016 CET1 ratio at 11.6% and within target range despite negative impact from the DOJ settlement

~(0.9)% 11.4% 12.5% 11.6% 4Q15 4Q16 (pre-DOJ RMBS settlement) DOJ RMBS settlement 4Q16 reported 4Q15 to 4Q16 CET1 ratio development 12% 11% CET1 ratio target through end-20161

1 Pre-significant litigation 2 The look-through CET1 ratio, without taking into account the impact of the final DOJ settlement relating to our legacy RMBS business, excludes a provision in 4Q16 of approximately USD 2 bn and an increase in operational risk RWA of approximately CHF 0.7 bn Execution Profitable growth Legacy Detailed Financials Capital

SLIDE 27

February 14, 2017 27

Full year 2015 2016 Target Full year 2016 2017 Target 2018 Target

Net cost savings of CHF 1.9 bn achieved in 2016, exceeding target for the year by CHF 0.5 bn

Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix * See Appendix Headcount includes permanent full-time equivalent employees, contractors, consultants and other contingent workers

Adjusted operating expenses at constant FX rates* in CHF bn

Achieved full year net savings of CHF 1.9 bn, exceeding target by CHF 0.5 bn, including net headcount reductions of more than 7,250 By end-2017 we target to be below CHF 18.5 bn, including an incremental headcount reduction of more than 5,500 for the year Committed to delivering on our end-2018 target with cost base of below CHF 17.0 bn

Key messages 21.24 <19.8 19.38 <17.0 (1.86) <18.5

Execution Profitable growth Legacy Detailed Financials Capital

SLIDE 28

February 14, 2017 28

Swiss Universal Bank

Strong full year performance with the fourth consecutive quarter of YoY PTI growth

Key messages

Key metrics in CHF bn Adjusted key financials in CHF mn

4Q16 3Q16 4Q15 2016 2015

Adj. net margin2 in bps

28 35 231 36 321 Net new assets (3.5) 0.2 (2.9) (1.7) 3.2 Mandates penetration 30% 29% 26% 30% 26% Net loans 166 167 163 166 163 Net new assets C&IB 2.5 (1.2) 4.2 4.3 10.6 Risk-weighted assets 66 66 60 66 60 Leverage exposure 253 246 238 253 238 4Q16 3Q16 4Q15 2016 2015 Net revenues 1,379 1,321 1,4001 5,393 5,6031

/w Private Banking

838 814 8811 3,338 3,5911

/w Corp. & Inst. Banking

541 507 5191 2,055 2,0121

Provision for credit losses 34 30 43 79 138 Total operating expenses 967 860 1,021 3,576 3,841 Pre-tax income 378 431 3361 1,738 1,6241 Pre-tax income ex Swisscard 378 431 3361 1,738 1,5991

/w Private Banking

171 214 1411 879 8031

/w Corp. & Inst. Banking

207 217 1951 859 7961

Cost/income ratio 70% 65% 73% 66% 69% Return on regulatory capital† 12% 14% 11% 14% 13%

Note: Financial and other information is for Swiss Universal Bank division. Scope of Credit Suisse (Schweiz) AG differs from Swiss Universal Bank division. All financial numbers presented and discussed are adjusted, unless

therwise stated. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix

1 Includes an extraordinary dividend from SIX Group of CHF 24 mn in PB and CHF 4 mn in C&IB in 4Q15 2 Adjusted to exclude Swisscard net revenues and operating expenses for 2015 in SUB PB † See Appendix

Pre-tax income up 13% compared to 4Q15; full year 2016 result2 improved 9% YoY with continued focus on cost discipline Improved revenues from 3Q16; slightly down from 4Q15 which included an extraordinary dividend from our ownership in SIX Group Operating expenses down 5% from 4Q15 Credit provisions at low levels, reflecting the quality of our loan portfolio Wealth Management Credit Suisse Invest continued driving mandates penetration of 30%, up 4 pp. vs. 4Q15 Continued selected exits in the External Asset Manager (EAM) business and regularization outflows impacted 4Q16 NNA by CHF (1.9) bn, totaling CHF (3.8) bn for full year 2016 AuM of CHF 243 bn (up CHF 2 bn / 1% vs. full year 2015) Corporate & Institutional Banking Continued strong result with improved revenue performance QoQ / YoY; good IB momentum in Switzerland reflected in a strong increase in revenues in 4Q16 Total AuM of CHF 289 bn (up CHF 13 bn / 5% vs. full year 2015)

Execution Profitable growth Legacy Detailed Financials Capital

SLIDE 29

February 14, 2017 29

International Wealth Management

9% PTI growth in 2016 with higher revenues and record PB NNA

Adjusted key financials in CHF mn

4Q16 3Q16 4Q15 2016 2015 Net revenues 1,245 1,081 1,1621 4,644 4,5411

/w Private Banking

864 789 7971 3,317 3,2131

/w Asset Management

381 292 365 1,327 1,328

Provision for credit losses 6

20 5 Total operating expenses 939 840 940 3,515 3,520 Pre-tax income 300 241 2291 1,109 1,0161

/w Private Banking

192 190 1901 822 8301

/w Asset Management

108 51 39 287 186

Cost/income ratio 75% 78% 81% 76% 78% Return on regulatory capital† 24% 20% 19% 23% 22% PB 4Q16 3Q16 4Q15 2016 2015

Adj. net margin in bps

24 25 261 27 281 Net new assets 0.4 4.4 (4.2) 15.6 (3.0) Number of RM 1,140 1,160 1,180 1,140 1,180 Net loans 45 43 40 45 40 Net new assets AM (4.4) 5.0 3.6 5.6 26.5 Risk-weighted assets 35 33 33 35 33 Leverage exposure 94 89 102 94 102

Key messages

Strong finish to the year with an increase across major revenue components in 4Q16 vs. 3Q16 Improved return on regulatory capital and cost/income ratio despite further investments in growth and in compliance & risk functions Wealth Management AuM increased 12% during 2016 with NNA of CHF 15.6 bn from emerging markets and Europe; NNA growth rate at 5%, or 7% before regularization outflows of CHF 5.7 bn Improved gross margin by 3 bps to 110 bps in 2016 Revenue increase in 2016; higher net interest income and improved client activity in 4Q16; recurring revenues stabilized Stable PTI with investments offsetting higher revenues; PTI up 15%

vs. 4Q15 if excluding an extraordinary SIX dividend in 4Q15

Asset Management Pre-tax income up 54% vs. 2015 Management fees increased by 2%; solid cost control with total expenses down 9% in 2016 NNA of CHF 5.6 bn in 2016; negative NNA in 4Q16, mainly reflecting CHF 3.5 bn emerging market money market outflows

Key metrics in CHF bn

Execution Profitable growth Legacy Detailed Financials Capital

SLIDE 30

February 14, 2017 30

Adjusted key financials in CHF mn

Asia Pacific

Continued growth and record full year results in Wealth Management

4Q16 3Q16 4Q15 2016 2015 Net revenues 862 917 826 3,597 3,839 Provision for credit losses 11 34 3 26 35 Total operating expenses 729 708 675 2,793 2,662 Pre-tax income 122 175 148 778 1,142 Cost/income ratio 85% 77% 82% 78% 69% Return on regulatory capital† 9% 13% 12% 15% 20% 4Q16 3Q16 4Q15 2016 2015

Adj. net margin in bps

23 17 15 24 23 Net new assets 0.7 4.6 3.0 14.6 17.8 Number of RM 640 650 580 640 580 Net loans 40 39 36 40 36 Risk-weighted assets 35 32 27 35 27 Leverage exposure 109 108 99 109 99

Note: All financial numbers presented and discussed are adjusted, unless otherwise stated. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix † See Appendix 1 Includes contributions from APAC Wealth Management, APAC Underwriting and Advisory as well as Financing for activities with our UHNWI, Entrepreneurs and Corporate clients. Pro forma Wealth Management and connected activities within APAC are based on preliminary estimates 2 Source: Dealogic 3 SMG = Strategic Market-Making Group

Key messages

Record net revenues and pre-tax income in Wealth Management for the full year and 4Q16, with a revenue increase of 37% vs. 4Q15 Continued positive NNA of CHF 0.7 bn in 4Q16 and CHF 14.6 bn in 2016, despite regularization outflows of CHF 1.4 bn in 4Q16 and CHF 2.5 bn in 2016 Wealth Management gross margin up 15 bps vs. 4Q15 including higher margins on growing loan and deposit volumes and increased client activity; net margin up 8 bps vs. 4Q15 Improved performance in Underwriting & Advisory vs. 4Q15 from increased client activity – #1 Rank2 in APAC ex-Japan amongst international banks for 2016 Fixed income sales and trading revenues were lower in 4Q16 vs. 4Q15, reflecting reduction in client activity, especially in Rates, partially offset by positive net fair value impact on a portfolio of impaired loans and higher FX activity Equities revenues (excluding SMG3) up slightly vs. 4Q15, mainly reflecting trading gains and positive net fair value impact on a portfolio of impaired loans, partially offset by decrease in Prime

Services. Full year 2016 results were adversely impacted from

decreased client activity in Greater China

Key metrics in CHF bn

4Q16 3Q16 4Q15 2016 2015 Pre-tax income 167 99 61 513 311

Pro-forma Wealth Management & connected activities1 in CHF mn

Execution Profitable growth Legacy Detailed Financials Capital

SLIDE 31

February 14, 2017 31

Key messages

Investment Banking & Capital Markets

Increased PTI reflects improved share of wallet and strong performance in debt underwriting

Note: All financial numbers presented and discussed are adjusted, unless otherwise stated. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix. All share of wallet and rank data is based on IBCM addressable market; includes Americas and EMEA only; excludes self-advised deals and non-core DCM products (investment grade loans, asset-backed and mortgage-backed securities, and government debt) 1 Gross global revenues from advisory, debt and equity underwriting generated across all divisions before cross-divisional revenue sharing agreements 2 Source: Dealogic † See Appendix

4Q16 Strong PTI driven by 4Q16 net revenues of USD 569 mn up 36% YoY, outperforming the Street Operating expenses down 14% YoY on lower variable compensation and general and administrative expenses Return on regulatory capital of 22%, with Americas return on regulatory capital of 28% RWA of USD 18 bn up 8% YoY due to an increase in IBCM’s share of the Corporate Bank, partially offset by reduced commitments related to debt underwriting activity Global advisory and underwriting revenues1 up 32% YoY,

utperforming the industry-wide fee pool which is up 1%

2016 2016 net revenues were up 8% YoY on strong advisory and debt underwriting revenues, outperforming the Street2 Operating expenses down 5%, reflecting cost discipline and self- funded growth investment Results reflect continued execution of our strategy, evidenced by improved share of wallet2 across all key products for full year 2016 Increased covered share of wallet2 across all client segments

4Q16 3Q16 4Q15 2016 2015 Risk-weighted assets 18 19 16 18 16 Leverage exposure 45 46 41 45 41

Adjusted key financials in USD mn

4Q16 3Q16 4Q15 2016 2015 Net revenues 569 479 418 2,001 1,857 Provision for credit losses (1) (9)

20
Total operating expenses

428 433 496 1,684 1,764 Pre-tax income 142 55 (78) 297 93 Cost/income ratio 75% 91% 119% 84% 95% Return on regulatory capital† 22% 9% n/m 12% 5%

Key metrics in USD bn

4Q16 3Q16 4Q15 2016 2015 Global advisory and underwriting revenues1 1,042 945 790 3,771 3,460

Global Advisory and Underwriting revenues1 in USD mn

Execution Profitable growth Legacy Detailed Financials Capital

SLIDE 32

February 14, 2017 32

Key messages

Global Markets

Global Markets delivers profitability in a restructuring year

4Q16 3Q16 4Q15 2016 2015 Equities 441 330 531 1,861 2,388

/w SMG

20 15 84 183 423

Credit 608 740 366 2,501 3,131 Solutions 259 359 316 1,384 1,759 Other (52) (33) (45) (171) (154) Net revenues 1,256 1,396 1,168 5,575 7,124 Provision for credit losses (3) (6) (4) (4) 11 Total operating expenses 1,236 1,251 1,679 5,295 5,977 Pre-tax income 23 151 (507) 284 1,136 Cost/income ratio 98% 90% 144% 95% 84% Return on regulatory capital† 1% 4% n/m 2% 7%

Substantial rebound in profitability vs. 4Q15 driven by an 8% increase in revenues on a 20% reduction in RWA and 26% reduction in costs, highlighting strength of resized franchise Strong results and leading market positions in credit products, securitized products and emerging markets vs. 4Q15 with

utperformance in the Americas

Higher equities revenues in a seasonally slower quarter, up 34%

vs. 3Q16, reflecting an increase in trading volumes

YoY revenue decline in equity derivatives on lower volatility, albeit significant sequential improvement as client activity increased; further collaboration with IWM clients core management focus for 2017 Operating expenses declined 26% vs. 4Q15 reflecting lower compensation and benefits and other expenses − 4Q16 annualized1 cost base exit rate below USD 5.2 bn2;

n track to achieve 2018 ambition of < USD 4.8 bn in costs

− Expenses declined USD 682 mn vs. 2015 driven by substantial progress on accelerated cost initiatives Increased capital efficiency and reduced risk profile; operating below year-end 2016 RWA ceiling of USD 60 bn and leverage exposure ceiling of USD 290 bn

4Q16 3Q16 4Q15 2016 2015 Risk-weighted assets 51 53 64 51 64 Leverage exposure 278 296 280 278 280

Key metrics in USD bn

Note: All financial numbers presented and discussed are adjusted, unless otherwise stated. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix 1 Annualized numbers do not take account of variations in operating results, seasonality and other factors and may not be indicative of actual, full-year results 2 Estimated 4Q16 annualized exit rate shown at Investor Day 2016 Execution Profitable growth Legacy Detailed Financials Capital

Adjusted key financials in USD mn

SLIDE 33

February 14, 2017 33

Adjusted

Key messages

Strategic Resolution Unit

Continued execution of our strategy – 4Q16 adjusted expenses down 58% YoY; leverage exposure and RWA down 39%

Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in the Appendix

Key financials in USD mn

4Q16 3Q16 4Q15 2016 2015 Net revenues (201) (170) (125) (1,283) 557 Provision for credit losses 28 6 99 115 138 Total operating expenses 287 351 688 1,584 2,677 Pre-tax loss (516) (527) (912) (2,982) (2,258) Real estate gains (4)

(4)
Loss on business sales

6
Restructuring expenses

1 23 158 123 158 Major litigation expenses 2,029 324 258 2,353 295 Pre-tax loss reported (2,543) (874) (1,328) (5,460) (2,711) 4Q16 3Q16 4Q15 2016 2015 Risk-weighted assets 44 55 73 44 73 RWA excl. operational risk 25 35 54 25 54 Leverage exposure 103 119 170 103 170

Key metrics in USD bn

Continued progress in reducing RWA and leverage exposure in 4Q16 by USD 11 bn and USD 16 bn, respectively. RWA for derivatives, loans and financing portfolios down 38% vs. 3Q16: − Broad range of transactions executed in the quarter, including the sale of loan portfolios, and a large number of unwinds and compressions across macro and credit derivative products − Reductions include the sale of a loan portfolio in connection with which GM entered into a co-investment agreement; and the transfer of certain derivative positions from SRU to GM which received regulatory approval to apply updated capital

models. Combined impact on RWA and Leverage for GM of

USD 3 bn and USD 8 bn, respectively Adjusted pre-tax income improved by USD 11 mn vs. 3Q16: − Reduction to adjusted operating expenses vs. prior quarter, partially offset by lower fee based revenues from legacy investment banking businesses due to accelerated unwinds; exit cost at ~0.5% of RWA; revised lifetime guidance to < 3% On a year-on-year basis, RWA and leverage exposure reduced by USD 29 bn (39%) and USD 67 bn (39%), respectively. Bilateral derivatives trade count of 142k, down 191k vs. 4Q15, or 57% Full year 2016 adjusted operating expenses lower by USD 1.1 bn,

r 41%, driven by the exit from US Private Banking onshore

business and reduced footprint in legacy Investment Banking businesses 4Q16 includes a USD 2 bn expense provision in connection with the settlement with the US Department of Justice related to our legacy residential mortgage-backed securities business

Execution Profitable growth Legacy Detailed Financials Capital

SLIDE 34

February 14, 2017 34

Summary

Executing with discipline Growing profitably Resolving key legacy issues Strengthening our capital position

1 3 2 4

SLIDE 35

Appendix

SLIDE 36

February 14, 2017 36

Wealth Management businesses

Net and gross margins

Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in this presentation. For details on calculations see at the end of this presentation under ‘Notes’ 1 Adjusted to exclude Swisscard net revenues and operating expenses for 1Q and 2Q in 2015 in SUB PB

SUB PB Adj. net margin1 in bps

Adj. gross margin1 in bps

IWM PB Adj. net margin in bps

Adj. gross margin in bps

APAC PB Adj. net margin in bps

151 160 150

15 17 23 23 24

4Q15 2016 4Q16

Adj. gross margin in bps

72 84 87 79 86

Average AuM in CHF bn 55 376 351

Adj. pre-tax income1 in CHF mn

271 1,374 1,178

Adj. net revenues1 in CHF mn

3Q16 2015

26 25 24 28 27

4Q15 2016 4Q16 3Q16 2015

23 35 28 32 36

4Q15 2016 4Q16 3Q16 2015 4Q15 2016 4Q16 3Q16 2015

108 104 109 107 110

4Q15 2016 4Q16 3Q16 2015

145 134 138 138 138

4Q15 2016 4Q16 3Q16 2015 165 69 346 172 97 372 295 300 301 190 822 830 797 3,317 3,213 304 190 789 316 192 864 243 241 249 141 879 803 881 3,338 3,443 243 214 814 243 171 838

SLIDE 37

February 14, 2017 37

Swiss Universal Bank

Private Banking and Corporate & Institutional Banking

Note: Financial and other information is for Swiss Universal Bank division. Scope of Credit Suisse (Schweiz) AG differs from Swiss Universal Bank division. Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in this presentation 1 Adjusted to exclude Swisscard net revenues and operating expenses in 2015 in SUB PB

Private Banking Adjusted key financials in CHF mn C&IB Adjusted key financials in CHF mn Key metrics in CHF bn Key metrics in CHF bn

4Q16 3Q16 4Q15 2016 2015 Net interest income 291 278 288 1,083 987 Recurring commissions & fees 125 118 116 475 467 Transaction-based 139 124 128 548 593 Other revenues (14) (13) (13) (51) (35) Net revenues 541 507 519 2,055 2,012 Provision for credit losses 24 17 29 40 89 Total operating expenses 310 273 295 1,156 1,127 Pre-tax income 207 217 195 859 796 Cost/income ratio 57% 54% 57% 56% 56% 4Q16 3Q16 4Q15 2016 2015

Adj. net margin1 in bps

28 35 23 36 32 Net new assets (3.5) 0.2 (2.9) (1.7) 3.2 Assets under management 243 245 241 243 241 Mandates penetration 30% 29% 26% 30% 26% Number of RM 1,490 1,500 1,570 1,490 1,570 4Q16 3Q16 4Q15 2016 2015 Net new assets 2.5 (1.2) 4.2 4.3 10.6 Assets under management 289 285 276 289 276 Number of RM 480 480 490 480 490 4Q16 3Q16 4Q15 2016 2015 Net interest income 454 446 465 1,801 1,770 Recurring commissions & fees 253 243 257 971 1,102 Transaction-based 131 125 159 564 720 Other revenues

(1) Net revenues 838 814 881 3,338 3,591 Provision for credit losses 10 13 14 39 49 Total operating expenses 657 587 726 2,420 2,714 Pre-tax income 171 214 141 879 828 Pre-tax income ex Swisscard 171 214 141 879 803 Cost/income ratio 78% 72% 82% 72% 76%

SLIDE 38

February 14, 2017 38

International Wealth Management

Private Banking and Asset Management

Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in this presentation

Private Banking Adjusted key financials in CHF mn Asset Management Adjusted key financials in CHF mn Key metrics in CHF bn Key metrics in CHF bn

4Q16 3Q16 4Q15 2016 2015 Net interest income 353 326 275 1,308 1,006 Recurring commissions & fees 277 267 283 1,093 1,161 Transaction- and perf.-based 235 197 240 922 1,049 Other revenues (1) (1) (1) (6) (3) Net revenues 864 789 797 3,317 3,213 Provision for credit losses 6

20 5 Total operating expenses 666 599 614 2,475 2,378 Pre-tax income 192 190 190 822 830 Cost/income ratio 77% 76% 77% 75% 74% 4Q16 3Q16 4Q15 2016 2015

Adj. net margin in bps

24 25 26 27 28 Net new assets 0.4 4.4 (4.2) 15.6 (3.0) Assets under management 323 311 290 323 290 Net loans 45 43 40 45 40 Number of RM 1,140 1,160 1,180 1,140 1,180 4Q16 3Q16 4Q15 2016 2015 Management fees 228 218 225 891 873 Performance & placement rev. 108 41 56 208 164 Investment & partnership inc. 45 33 84 228 291 Net revenues 381 292 365 1,327 1,328 Total operating expenses 273 241 326 1,040 1,142 Pre-tax income 108 51 39 287 186 Cost/income ratio 72% 83% 89% 78% 86% 4Q16 3Q16 4Q15 2016 2015 Net new assets (4.4) 5.0 3.6 5.6 26.5 Assets under management 322 324 321 322 321

SLIDE 39

February 14, 2017 39

Asia Pacific

Private Banking and Investment Banking

Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results is included in this presentation

Private Banking Adjusted key financials in CHF mn Investment Banking Adjusted key financials in USD mn Key metrics in CHF bn

4Q16 3Q16 4Q15 2016 2015 Net interest income 166 159 131 602 445 Recurring commissions & fees 92 67 60 302 260 Transaction- and perf.-based 114 120 84 486 456 Other revenues

(16) 17 Net revenues 372 346 271 1,374 1,178 Provision for credit losses 9 38 (5) 32 18 Total operating expenses 266 239 221 966 809 Pre-tax income 97 69 55 376 351 Cost/income ratio 72% 69% 82% 70% 69% 4Q16 3Q16 4Q15 2016 2015

Adj. net margin in bps

23 17 15 24 23 Net new assets 0.7 4.6 3.0 14.6 17.8 Assets under management 168 169 150 168 150 Number of RM 640 650 580 640 580 4Q16 3Q16 4Q15 2016 2015 Fixed income sales & trading 71 152 140 647 636 Equity sales & trading 337 349 374 1,335 1,947 Underwriting & advisory 114 118 80 407 303 Other revenues (35) (32) (42) (130) (113) Net revenues 487 587 552 2,259 2,773 Provision for credit losses 2 (5) 8 (7) 17 Total operating expenses 459 483 454 1,851 1,924 Pre-tax income 26 109 90 415 832 Cost/income ratio 94% 82% 82% 82% 69%

SLIDE 40

February 14, 2017 40

Reconciliation of adjustment items (1/2)

IWM AM in CHF mn GM in USD mn IBCM in USD mn

4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 Net revenues reported 381 292 365 1,327 1,328 1,256 1,396 1,168 5,575 7,124 569 479 418 2,001 1,857 Fair value on own debt

Real estate gains
(Gains)/losses on business sales
Net revenues adjusted

381 292 365 1,327 1,328 1,256 1,396 1,168 5,575 7,124 569 479 418 2,001 1,857 Provision for credit losses

(6) (4) (4) 11 (1) (9)

20
Total operating expenses reported

278 243 330 1,047 1,146 1,250 1,310 4,517 5,522 9,004 422 449 902 1,713 2,170 Goodwill impairment

(2,690)
(2,690)
(384)
(384)

Restructuring expenses (5) (2) (4) (7) (4) (14) (52) (97) (220) (97) 6 (16) (22) (29) (22) Major litigation provisions

(51) (7) (240)

Total operating expenses adjusted

273 241 326 1,040 1,142 1,236 1,251 1,679 5,295 5,977 428 433 496 1,684 1,764 Pre-tax income/(loss) reported 103 49 35 280 182 9 92 (3,345) 57 (1,891) 148 39 (484) 268 (313) Total adjustments 5 2 4 7 4 14 59 2,838 227 3,027 (6) 16 406 29 406 Pre-tax income/(loss) adjusted 108 51 39 287 186 23 151 (507) 284 1,136 142 55 (78) 297 93

Adjusted results are non-GAAP financial measures that exclude goodwill impairment and certain other revenues and expenses included in our reported

results. Management believes that adjusted results provide a useful presentation of our operating results for purposes of assessing our Group and

divisional performance consistently over time, on a basis that excludes items that management does not consider representative of our underlying

performance. Provided below is a reconciliation of our adjusted results to the most directly comparable US GAAP measures.

CS Group in CHF mn SRU in USD mn

Corp. Ctr. in CHF mn

4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 Net revenues reported 5,181 5,396 4,210 20,323 23,797 (198) (170) (125) (1,285) 557 (16) 72 (748) 71 561 Fair value on own debt

697
(298)
697
(298)

Real estate gains (78) (346) (72) (424) (95) (4)

(4)
(Gains)/losses on business sales

(34)

58 (34) 1

6
52
Net revenues adjusted

5,105 5,050 4,801 19,957 23,370 (201) (170) (125) (1,283) 557 (16) 72 (51) 123 263 Provision for credit losses 75 55 133 252 324 28 6 99 115 138

(1) (1) Total operating expenses reported 7,009 5,119 10,518 22,037 25,895 2,317 698 1,104 4,060 3,130 262 279 307 759 862 Goodwill impairment

(3,797)
(3,797)
Restructuring expenses

(49) (145) (355) (540) (355) (1) (23) (158) (123) (158) (7)

(7)
Major litigation provisions

(2,101) (306) (564) (2,407) (820) (2,029) (324) (258) (2,353) (295)

Total operating expenses adjusted

4,859 4,668 5,802 19,090 20,923 287 351 688 1,584 2,677 255 279 307 752 862 Pre-tax income/(loss) reported (1,903) 222 (6,441) (1,966) (2,422) (2,543) (874) (1,328) (5,460) (2,711) (278) (207) (1,053) (687) (300) Total adjustments 2,074 105 5,307 2,581 4,545 2,027 347 416 2,478 453 7

59 (298) Pre-tax income/(loss) adjusted 171 327 (1,134) 615 2,123 (516) (527) (912) (2,982) (2,258) (271) (207) (356) (628) (598)

SLIDE 41

February 14, 2017 41

SUB PB in CHF mn IWM PB in CHF mn APAC PB in CHF mn

4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 Net revenues reported 858 1,160 963 3,704 3,696 918 789 808 3,371 3,224 372 346 271 1,374 1,178 Fair value on own debt

Real estate gains

(20) (346) (72) (366) (95) (54)

(54)
(Gains)/losses on business sales
(10)
(10)
(11)
(11)
Net revenues adjusted

838 814 881 3,338 3,591 864 789 797 3,317 3,213 372 346 271 1,374 1,178 Provision for credit losses 10 13 14 39 49 6

20 5 9 38 (5) 32 18 Total operating expenses reported 654 603 784 2,471 2,772 684 593 874 2,510 2,678 267 242 228 970 816 Goodwill impairment

Restructuring expenses

3 (16) (33) (51) (33) (11) (13) (32) (47) (32) (1) (3) (1) (4) (1) Major litigation provisions

(25)
(25)

(7) 19 (228) 12 (268)

Total operating expenses adjusted 657 587 726 2,420 2,714 666 599 614 2,475 2,378 266 239 221 966 809 Pre-tax income/(loss) reported 194 544 165 1,194 875 228 196 (59) 841 541 96 66 48 372 344 Total adjustments (23) (330) (24) (315) (47) (36) (6) 249 (19) 289 1 3 7 4 7 Pre-tax income/(loss) adjusted 171 214 141 879 828 192 190 190 822 830 97 69 55 376 351

SUB C&IB in CHF mn APAC IB in CHF mn APAC IB in USD mn

4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 4Q16 3Q16 4Q15 2016 2015 Net revenues reported 541 507 532 2,055 2,025 490 571 555 2,223 2,661 487 587 552 2,259 2,773 Fair value on own debt

Real estate gains
(Gains)/losses on business sales
(13)
(13)
Net revenues adjusted

541 507 519 2,055 2,012 490 571 555 2,223 2,661 487 587 552 2,259 2,773 Provision for credit losses 24 17 29 40 89 2 (4) 8 (6) 17 2 (5) 8 (7) 17 Total operating expenses reported 329 276 304 1,184 1,136 481 489 1,212 1,876 2,611 477 504 1,221 1,901 2,691 Goodwill impairment

(756)
(756)
(765)
(765)

Restructuring expenses

(9) (9) (9) (18) (20) (2) (49) (2) (18) (21) (2) (50) (2) Major litigation provisions (19)

(19)
Total operating expenses adjusted

310 273 295 1,156 1,127 463 469 454 1,827 1,853 459 483 454 1,851 1,924 Pre-tax income/(loss) reported 188 214 199 831 800 7 86 (665) 353 33 8 88 (677) 365 65 Total adjustments 19 3 (4) 28 (4) 18 20 758 49 758 18 21 767 50 767 Pre-tax income/(loss) adjusted 207 217 195 859 796 25 106 93 402 791 26 109 90 415 832

Reconciliation of adjustment items (2/2)

Adjusted results are non-GAAP financial measures that exclude goodwill impairment and certain other revenues and expenses included in our reported

results. Management believes that adjusted results provide a useful presentation of our operating results for purposes of assessing our Group and

divisional performance consistently over time, on a basis that excludes items that management does not consider representative of our underlying

performance. Provided below is a reconciliation of our adjusted results to the most directly comparable US GAAP measures.

SLIDE 42

February 14, 2017 42

Swisscard deconsolidation impact

Impact of the deconsolidation on the Swiss Universal Bank

Note: Adjusted results are non-GAAP financial measures. A reconciliation to reported results for other adjustments not relating to Swisscard is included in the Notes of this presentation † See Appendix This is an illustrative pro-forma presentation of the impact of the deconsolidation of the card issuing business on the historical results of SUB as if it had occurred on December 31, 2013. Given that as of July 1, 2015 the business has been deconsolidated and transferred to the equity method investment, Swisscard AECS GmbH and the transaction does not qualify for discontinued operations, the historical results are not restated in this respect. The reduction in pre-tax income in the Private Banking business of Swiss Universal Bank is offset by the reduction in minority interest from the deconsolidation at the Group level, therefore there is no material impact on the Group’s net income attributable to shareholders. These illustrative figures cannot be seen as being indicative of future trends or results 1 Pro-forma impact of the card issuing business deconsolidation in CHF mn

2014 1Q15 2Q15 3Q15 4Q15 2015 2014 1Q15 2Q15 3Q15 4Q15 2015 2014 1Q15 2Q15 3Q15 4Q15 2015 Net interest income 2,377 611 685 708 753 2,757 36 9 9

2,341 602 676 708 753 2,739 Recurring commissions & fees 1,671 412 412 372 373 1,569 233 56 59

1,438 356 353 372 373 1,454 Transaction-based revenues 1,462 382 349 295 287 1,313 49 8 7

1,413 374 342 295 287 1,298 Other revenues (36) (5) (7) (11) (13) (36)

(36)

(5) (7) (11) (13) (36) Net revenues 5,474 1,400 1,439 1,364 1,400 5,603 318 73 75

5,156 1,327 1,364 1,364 1,400 5,455 Provision for credit losses 94 23 33 39 43 138 5

23 33 39 43 138 Total operating expenses 3,794 934 961 925 1,021 3,841 239 61 62

3,555 873 899 925 1,021 3,718 Pre-tax income 1,586 443 445 400 336 1,624 74 12 13

1,512 431 432 400 336 1,599 Return on regulatory capital† 13% 14% 14% 13% 11% 13%

14% 14% 13% 11% 13%

SUB adjusted Swisscard impact1 SUB adjusted ex Swisscard

SLIDE 43

February 14, 2017 43

Currency mix & Group capital metrics

48% 27% 12% 13%

Currency mix capital metric4 ”look-through”

A 10% strengthening / weakening of the USD (vs. CHF) would have a +0.7 bps / (3.5) bps impact on the “look-through” BIS CET1 ratio

44% 43% 6% 7% 46% 40% 8% 6% 1 As reported 2 Total expenses include provisions for credit losses 3 Sensitivity analysis based on weighted average exchange rates of USD/CHF of 0.99 and EUR/CHF of 1.09 for the 2016 results 4 Data based on December 2016 month-end currency mix and on a ”look-through” basis 5 Reflects actual capital positions in consolidated Group legal entities (net assets) including net asset hedges less applicable Basel III regulatory adjustments (e.g. goodwill) Basel III Risk-weighted assets Swiss leverage exposure

CHF EUR Other USD

USD

CET1 capital 5

Contribution Swiss Universal Bank Net revenues 5,758 79% 12% 7% 1% 1% Total expenses2 3,734 89% 5% 3% 2% 2% International Wealth Management Net revenues 4,697 25% 41% 20% 3% 11% Total expenses2 3,576 46% 25% 12% 9% 9% Net revenues 21,594 28% 43% 12% 2% 15% Total expenses2 18,100 33% 34% 5% 12% 16% Asia Pacific Net revenues 3,597 2% 45% 2% 1% 50% Total expenses2 2,872 7% 21% 1% 4% 68% Global Markets Net revenues 5,497

61% 20% 4% 14% Total expenses2 5,449 2% 60% 4% 26% 9% Investment Bank & Capital Markets Net revenues 1,972

91% 4% 3% 3% Total expenses2 1,710 2% 72% 5% 16% 5%

Credit Suisse Core results1

Core results 2016

in CHF mn

CHF USD EUR GBP Other

Applying a +/- 10% movement on the average FX rates for 2016, the sensitivities are: USD/CHF impact on 2016 pre-tax income by CHF + 303 / (303) mn EUR/CHF impact on 2016 pre-tax income by CHF + 172 / (172) mn

Sensitivity analysis on Core results3

SLIDE 44

February 14, 2017 44

Notes

Throughout the presentation rounding differences may occur All risk-weighted assets (RWA) and leverage exposure figures shown in this presentation are as of the end of the respective period and

n a “look-through” basis

Gross and net margins are shown in basis points (bps) Gross margin = adj. net revenues annualized / average AuM; net margin = adj. pre-tax income annualized / average AuM Mandates penetration reflects advisory and discretionary mandates as percentage of total AuM, excluding AuM from the external asset manager (EAM) business

General notes

Adj. = Adjusted; AM = Asset Management; APAC = Asia Pacific; AuM = Assets under Management; bps = basis points;
Corp. Ctr. = Corporate Center; C&IB = Corporate & Institutional Banking; DCM = Debt Capital Markets; DOJ = Department of Justice;

EAM = External Asset Manager; ECM = Equity Capital Markets; GM = Global Markets; IB = Investment Banking; IBCM = Investment Banking & Capital Markets; IWM = International Wealth Management; n/m = not meaningful; NNA = Net new assets; PB = Private Banking; pp. = percentage points; PTI = Pre-tax income; QoQ = Quarter-on-quarter; RM = Relationship Manager(s); RMBS = Residential Mortgage-Backed Securities; SMG = Systematic Market-Making Group; SRU = Strategic Resolution Unit; SUB = Swiss Universal Bank; UHNWI = Ultra High Net Worth Individuals; WM = Wealth Management; YoY = Year-on-year

Abbreviations Specific notes

* “Adjusted operating expenses at constant FX rates” include adjustments as made in all our disclosures for restructuring expenses, major litigation expenses and a goodwill impairment taken in 4Q15 as well as adjustments for FX, applying the following main currency exchange rates for 1Q15: USD/CHF 0.9465, EUR/CHF 1.0482, GBP/CHF 1.4296, 2Q15: USD/CHF 0.9383, EUR/CHF 1.0418, GBP/CHF 1.4497, 3Q15: USD/CHF 0.9684, EUR/CHF 1.0787, GBP/CHF 1.4891, 4Q15: USD/CHF 1.0000, EUR/CHF 1.0851, GBP/CHF 1.5123, 1Q16: USD/CHF 0.9928, EUR/CHF 1.0941, GBP/CHF 1.4060, 2Q16: USD/CHF 0.9756, EUR/CHF 1.0956, GBP/CHF 1.3845, 3Q16: USD/CHF 0.9728, EUR/CHF 1.0882, GBP/CHF 1.2764, 4Q16: USD/CHF 1.0101, EUR/CHF 1.0798, GBP/CHF 1.2451. These currency exchange rates are unweighted, i.e. a straight line average of monthly rates. We apply this calculation consistently for the periods under review. † Regulatory capital reflects the worst of 10% of RWA and 3.5% of leverage exposure. Return on regulatory capital is based on (adjusted) returns after tax assuming a tax rate of 30% for all periods and capital allocated based on the worst of 10% of average RWA and 3.5% of average leverage exposure. For Global Markets and Investment Banking & Capital Markets, return on regulatory capital is based on US dollar denominated numbers.

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February 14, 2017 45